Transaction: Iberdrola Sells 49 Per Cent Stake In Viking Offshore Wind Farm To EIP

Bilbao, Spain - Spanish energy group Iberdrola has signed an agreement with Swiss infrastructure investment company Energy Infrastructure Partners (EIP) to sell a 49 per cent stake in the Wikinger offshore wind farm in Germany.

Iberdrola will continue to hold a majority stake of 51 per cent in the project in the German Baltic Sea and will be responsible for the operation and maintenance services. According to the agreement, the total value of Wikinger is around 1.425 billion euros, making the transaction worth around 700 million euros.

With the sale of the shares, Iberdrola is further advancing the company's asset rotation plan to finance new renewable energy projects under development, the energy group said.

Wikinger is the first offshore wind farm that Iberdrola has developed single-handedly. With an installed capacity of 350 megawatts (MW), it has been supplying electricity for the equivalent of around 350,000 German households since its was commissioned in 2018.

Iberdrola focuses strongly on the offshore sector. Projects with a capacity of 3,000 MW are currently under construction, with a further 4,000 MW secured and an extensive project pipeline under development, the company said.

Source: IWR Online, 15 Sep 2022